Mondelez International, Inc. $MDLZ Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Mondelez International by 3.0% during Q1, now holding approximately 730,750 shares valued at about $49.5 million.
• Mondelez International announced a quarterly dividend increase from $0.47 to $0.50 per share, reflecting a 3.2% yield.
• The company reported Q2 earnings exceeding analyst expectations, with a revenue of $8.98 billion, up 7.7% from the previous year.

Gabelli Funds LLC cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 730,750 shares of the company's stock after selling 22,400 shares during the period. Gabelli Funds LLC owned about 0.06% of Mondelez International worth $49,581,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MDLZ. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mondelez International by 90.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock valued at $1,968,811,000 after buying an additional 13,755,181 shares during the period. Nuveen LLC acquired a new position in shares of Mondelez International in the 1st quarter valued at about $866,843,000. Goldman Sachs Group Inc. boosted its holdings in shares of Mondelez International by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock valued at $640,964,000 after buying an additional 3,454,174 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Mondelez International during the 1st quarter valued at about $189,930,000. Finally, Deutsche Bank AG boosted its stake in Mondelez International by 17.1% during the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after purchasing an additional 2,002,640 shares during the period. 78.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MDLZ shares. Barclays boosted their target price on shares of Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Mondelez International in a research note on Wednesday, August 20th. They set an "overweight" rating and a $75.00 target price for the company. Sanford C. Bernstein boosted their target price on shares of Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Dbs Bank raised shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and boosted their target price for the company from $66.00 to $78.00 in a research note on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mondelez International has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ traded up $0.16 during trading on Friday, reaching $61.44. The company had a trading volume of 5,866,833 shares, compared to its average volume of 7,301,783. The firm's fifty day moving average is $65.82 and its 200 day moving average is $65.86. The firm has a market capitalization of $79.50 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 4.63 and a beta of 0.46. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, equities analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio (DPR) is currently 68.86%.

Mondelez International Profile

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.